Buyers Guide

Preparing for homeownership doesn’t have to be an overwhelming process. However, there are certainly steps you want to take to ensure that you are prepared for this exciting time in your life. Below are some items that you will want to consider as you get ready.

Pre-planning for your Purchase:

Build a good credit history – Good credit will make qualifying for a mortgage as well as getting a lower interest rate much easier. Paying bills on time and not maxing out your credit cards are good places to start.

Get mortgage pre-approval – Contact a reputable mortgage agent and get pre-qualified for a loan. They will help you determine how much you can afford so that you can begin your search for properties accordingly.

Consider hiring an attorney – You will want to consider retaining an attorney to review all contracts and agreements associated with the home buying process.

Save up for a down payment – Down payments are most often 10-20% of property’s value. Sometimes if a FHA-qualified, it can possibly be less.

Set aside your closing costs which can include taxes, attorney’s fees, and transfer fees.

Your mortgage agent should be able to give you an idea of what to expect.

Finding the Right Property

Identify what is important to you. Consider things like size, schools, neighborhood amenities, monthly mortgage payment, public transportation, walkability, proximity to things in your everyday lifestyle.